Water to the site was a challenge that has been overcome.

I charge a flat water fee to my ADU tenants.

$1,000 a month is on the lighter side and upwards of $2,000 isn't unheard of.On the upside the fees often include utilities, internet, water, heat etc.

I only have student loan debtI have a full-time remote jobI have no prior experience in real estate investingMy credit score is high 700'sHere are the details about the property in Zenda,WI:Asking price: $235KIt’s being sold by out-of-state heirsIt needs at least $50K in repairs and updatesThe neighboring house recently sold for $235K (though I don’t have details on its condition before the sale)A family friend who owns a construction company assessed the property and noted the following:Replacement Needed: Furnace, Water Heater, Water Softener, Floor (concrete replacement needed due to unevenness), Roof, GuttersUpdates Needed: 1.5 BathroomsConcerns: Black mold and water leak marks upstairsRemodel Suggestion: The staircase is very steep and narrow; recommended to relocate and extend it into the living spaceAdditional Work: The property slopes downward, allowing rain to flow into the house.

I am willing to test the waters for awhile. 

I can't begin to fathom the financial harm and carnage that will come when Pace's students finally have to sell their under water properties.

Considering I'm over 6 hours away, I will likely need to invest in a pool maintenance service to clean the pool weekly.

If the HOA includes any perks (eg access to a pool), you can use that as a selling feature to tenants.

Otherwise, he should just tell the landlord he plans to finish out his lease, and then landlord would have to sell with the existing lease in place, limiting his buyer pool to investors, or wait until lease ends next July.

:Class A Properties:Cashflow vs Appreciation: Typically, 3-5 years for positive cashflow, but you get highest relative rent & value appreciation.Vacancy Est: Historically 10%, 5% the more recent norm.Tenant Pool: Majority will have FICO scores of 680+, zero evictions in last 7 years.Class B Properties:Cashflow vs Appreciation: Typically, decent amount of relative rent & value appreciation.Vacancy Est: Historically 10%, 5% should be applied only if proper research done to support.Tenant Pool: Majority will have FICO scores of 620-680, some blemishes, but should have no evictions in last 5 yearsClass C Properties:Cashflow vs Appreciation: Typically, high cashflow and at the lower end of relative rent & value appreciation.